I recently started my own company, providing operations consulting for small businesses. I don’t have an office, I just use a spare room in an apartment that I rent. Can I claim my rent to be a business expense?
Since you are self-employed, you can claim a certain percentage of your rent as a business-use-of-home expense – so long as you use the room as your principal place of business.
Anyone works from home as an employee, conversely, will need a T2200 form in order to claim rent and other business-use-of-home expenses. T2200 forms are provided by employers.
Please refer to this blog post for more information on business-use-of-home expenses.
Throughout tax season, Caroline, a tax analyst with TurboTax, will answer your tax questions. Have a question you’d like to ask? Click here.